The global sell-off in stock markets deepened as US unemployment hit a three-year high amid growing fears that the US Federal Reserve has left it too late to begin cutting interest rates.
Nonfarm payrolls grew by 114,000 in July, which was down from a downwardly revised 179,000 last month and much lower than the 175,000 expected by analysts.
The unemployment rate also rose to 4.3pc from 4.1pc, its highest level since October 2021.
The pan-European Stoxx 600 index fell as much as 2.3pc to a three-month low, while Germany’s Dax also dropped as much as 2.3pc. The Cac 40 in France dipped as sharply as 1.4pc. The FTSE 100 fell as much as 0.8pc.
Japan’s Nikkei 225 index had already closed down by 2,216.63 points – its second-largest points drop in…
